Revenue Group, Sogo in smart digital payment venture

Revenue Group managing director and group CEO Eddie Ng Chee Siong said his company will provide 200 smart digital payment terminals to Sogo to facilitate the payment acceptance.

KUALA LUMPUR: Customers at Sogo Department Store Sdn Bhd will be able to undertake cashless payments under its joint venture with Revenue Group Bhd.

Revenue Group, which has been at the forefront to develop such payment systems, will provide Quick Response (QR) payment and NETS acceptance to the shoppers.

Revenue Group managing director and group CEO Eddie Ng Chee Siong said his company will provide 200 smart digital payment terminals to Sogo to facilitate the payment acceptance.

“The smart digital payment can handle a myriad mobile QR code payment services including Alipay, Boost, Touch ‘n Go, UnionPay QR and GrabPay, as well as NETS card, making payment management simpler and more efficient for Sogo, ” he said in a statement on Monday.

“The smart digital payment terminals will be deployed at Sogo's three departments stores in Kuala Lumpur, Central i-City Mall in Shah Alam and The Mall, Mid Valley Southkey in Johor Bahru, providing additional payment options catering to the shoppers’ payment preference, ” he added.

The government is committed towards digital transformation and building Digital Malaysians and this was highlighted in the Budget 2020 with an allocation of RM450mil under the e-Tunai Rakyat initiative.

The initiative, which will be implemented on Jan 15, targets to increase the number of Malaysians and participating merchants to adopt e-wallets.

The e-Tunai Rakyat initiative will see qualified Malaysians aged 18 and above with annual income less than RM100,000 receiving RM30 each through any of the participating e-wallets. The RM30 can be used to purchase goods and services available through the respective e-wallets.

The e-Tunai Rakyat initiative will run for two months from Jan 15 to March 14,2020.

Revenue Group said the deployment of the smart digital payment terminals would enables Sogo to participate in the push for e-wallets adoption under the e-Tunai Rakyat initiative.

The cashless payment terminal can accept e-wallet payment from Touch ‘n Go eWallet, Boost and GrabPay.

Ng said that this will augur well for Revenue Group as the higher adoption of digital payment will translate to higher revenue for the group from its electronic transaction processing services.

Revenue Group's three business segments are the distribution, deployment, and maintenance of EDC terminals, electronic transaction processing services for credit and debit cards as well as solutions and services related to payment infrastructure.

As at December 2019, Revenue Group managed more than 50,000 EDC terminals nationwide.